JPMorgan Chase & Co.

NYSE-JPM

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Operating Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Net Income	14,393	14,987	14,643	14,005	12,898	18,149
Net Income
Depreciation & Amortization	2,269	2,210	2,030	1,965	1,967	2,002
Depreciation and Amortization
Net Change in Loans Held-for-Sale	472	-6,785	-5,809	5,351	-6,423	-3,596
Originations and Purchases of Loans Held-for-Sale
Proceeds from Sales, Securitizations and Paydowns of Loans Held-for-Sale
Other Adjustments	4,738	-563	1,124	2,511	1,619.5	-7,942
Deferred Tax Benefit
Estimated Bargain Purchase Gain Associated with the First Republic Acquisition
Initial Gain on the Visa Share Exchange
Other
Changes in Trading Assets	-59,365	-13,953	-231,665	142,027	-46,637	20,107
Change in Trading Assets
Changes in Securities Borrowed	-24,394	14,722	-19,156	32,926	-53,277	-510
Change in Securities Borrowed
Changes in Accrued Interest and Accounts Receivable	-17,530	-6,783	-17,070	21,216	13,060	-5,994
Accrued Interest and Accounts Receivable
Changes in Trading Liabilities	18,385	40,249	-10,486	-51,219	270	12,161
Change in Trading Liabilities
Changes in Accounts Payable	13,744	-9,036	1,276	-17,489	4,236	1,552
Accounts Payable and Other Liabilities
Changes in Other Operating Activities	-1,329	-8,350	9,969	-6,181	-4,908	-512
Change in Other Assets
Other Operating Adjustments
Cash from Operating Activities	-45,214	29,547	-251,839	147,758	-74,081	38,469
Net Cash Provided by Operating Activities

Cash Flow Statement	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23	Jun '23	Mar '23	Dec '22
Provision for Credit Losses	3,403	2,849	3,305	2,631	3,111	3,052
Provision for Credit Losses

Investing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Net Change in Short-Term Interbank Lending and Reverse Repurchase Agreements	44,868	-41,037	-134,479	95,696	2,160	-62,191
Deposits with Banks
Federal Funds Sold and Securities Purchased Under Resale Agreements
Net Change in Loans Held-for-Investment	-26,230	-53,052	-4,174	-16,051	-13,710	-9,868
Proceeds from Sales and Securitizations of Loans Held-for-Investment
Other Changes in Loans, Net
Net Change in Securities and Investments	-35,256	-76,242	22,548	-58,670	-33,751	-20,094
Proceeds from Paydowns and Maturities
Purchases
Proceeds from Paydowns and Maturities
Proceeds from Sales
Purchases
Payments for Business Acquisitions	—	—	—	—	—	-2,362
Net Cash Provided by the First Republic Acquisition
Other Investing Activities	-4,693	-2,729	-1,971	-3,355	1,896	276
Net Purchases of Assets Pursuant to Nonrecourse Advances Provided by the FRBB Under the MMLF
All Other Investing Activities, Net
Cash from Investing Activities	-21,311	-173,060	-118,076	17,620	-43,405	-94,239
Net Cash Provided by Investing Activities

Financing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Net Change in Deposits	-13,908	68,433	85,029	-18,967	29,478	-32,221
Deposits
Net Change in Short-Term Interbank Borrowing and Repurchase Agreements	-27,779	62,289	236,204	-92,467	-11,552	75,167
Federal Funds Purchased and Securities Loaned or Sold Under Repurchase Agreements
Issuance of Short-Term Debt	3,393	-45	10,817	2,084	3,051	861
Change in Short-Term Borrowings
Net Issuance / (Repayments) of Short-Term Debt	3,393	-45	10,817	2,084	3,051	861
Issuance of Long-Term Debt	31,130	23,957	29,927	30,966	24,846	24,716
Proceeds from Long-Term Borrowings
Repayments of Long-Term Debt	-27,791	-22,364	-28,457	-29,225	-20,670	-25,457
Payments of Long-Term Borrowings
Net Issuance / (Repayments) of Long-Term Debt	3,339	1,593	1,470	1,741	4,176	-741
Repurchases of Common Shares	-8,293	-7,506	-7,528	-4,301	-6,361	-5,336
Treasury Stock Repurchased
Net Issuance / (Repurchases) of Common Shares	-8,293	-7,506	-7,528	-4,301	-6,361	-5,336
Issuance of Preferred Shares	—	1,500	3,000	—	—	1,250
Proceeds from Issuance of Preferred Stock
Repurchases of Preferred Shares	—	-1,500	-3,000	-1,600	-2,250	-6,000
Redemption of Preferred Stock
Net Issuance / (Repurchases) of Preferred Shares	—	—	—	-1,600	-2,250	-4,750
Common Share Dividends Paid	-4,180	-4,205	-3,823	-3,858	-3,655	-3,777
Dividends Paid
Other Financing Activities	-345	2,245	-4,110	1,663	-2,141	-715
Beneficial Interests Issued by Consolidated VIES
All Other Financing Activities, Net
Cash from Financing Activities	-47,773	122,804	318,059	-115,705	10,746	27,238
Net Cash Provided by Financing Activities

Free Cash Flow	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Free Cash Flow	-45,214	29,547	-251,839	147,758	-74,081	38,469
Levered Free Cash Flow	-47,445	35,237	-238,498	140,739	-65,525	46,644
Unlevered Free Cash Flow	-68,220	19,059	-265,102	123,245	-85,289	28,806
Net Change in Cash	-114,298	-20,709	-51,856	49,673	-106,740	-28,532